Tanzania orders CRDB Bank, NCMC partnership to finance, advance carbon projects

ANTALYA: TANZANIA is seeking to unlock domestic financing for carbon projects as the government moves to expand green investment and turn carbon trading into a driver of economic growth and job creation.

SMinister of State in the Vice-President’s Office (Union and Environment), Hamad Yussuf Masauni, has urged CRDB Bank and the National Carbon Monitoring Centre (NCMC) to strengthen collaboration in financing, developing and promoting carbon projects.

He made the call on November 13, 2026, during the signing of a Memorandum of Understanding (MoU) between NCMC and CRDB Bank in Antalya, Türkiye, on the sidelines of the United Nations Climate Change Conference (COP31).

Speaking at the signing ceremony, Minister Masauni said climate change remains a major challenge to sustainable development, requiring innovative financing mechanisms, strong legal frameworks and strategic partnerships between the public and private sectors.

He said the government, through the National Development Vision 2050, has identified carbon trading as an important area of economic transformation capable of attracting green investment, mobilising climate finance and supporting national economic development.

“The government wants to ensure carbon trading goes beyond generating and selling carbon credits to deliver tangible economic, social and environmental benefits, including improved livelihoods, increased employment, technology transfer and greater participation of Tanzanian communities and businesses,” he said.

Moreover, he urged CRDB to develop innovative financial products, including loans, guarantees and other investment instruments, to enable carbon project owners and developers to access capital in accordance with banking assessments and legal requirements.

NCMC Executive Director Kathryn Kigaraba said the partnership will enable carbon projects to access financing locally, strengthening the country’s capacity to develop and expand carbon trading.

CRDB Chief Executive Officer Abdulmajid Nsekela said the agreement will open up investment opportunities, attract capital and facilitate carbon projects with economic and social benefits.

Earlier, the Permanent Secretary in the Vice-President’s Office, Richard Muyungi said the partnership will support implementation of Development Vision 2050, with carbon trading serving as an important instrument for attracting investment and stimulating productive activities.